Landen Capital Corp.
TSX VENTURE : LAN

March 30, 2010 07:00 ET

Landen Capital Corp.: Phase I Exploration Program Underway at the Arizona Gold and Cote d'Ivoire's Samapleu Ni-Cu Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2010) - Landen Capital Corp. (the "Company") (TSX VENTURE:LAN) is pleased to announce that exploration is underway on both its Bonanza gold project, La Paz County, Arizona and the Samapleu Ni-Cu project, Cote d'Ivoire, West Africa. The exploration program in Cote d'Ivoire, West Africa, is through the Company's wholly-owned subsidiary SAMA Nickel Corporation (collectively referred to as the "Company").

Bonanza Exploration Program

The initial program underway consists of a detailed survey of the accessible underground workings at both the past gold producing Harquahala-Bonanza and Golden Eagle Mines, followed by geologic mapping and an extensive sampling program. The objectives of this program include determining the true spatial location of the existing underground workings, augmenting prior sampling and resolving the structural and mineralizing controls of the gold system. The data will be combined to create a better understanding of gold mineralizing structures (feeders) and host/deposition environments. The results of this effort should provide an accurate model of the gold mineralizing events for the development of future high-quality drill targets on the Property.

Cote d'Ivoire, West Africa

A 3,000 metre HQ3 core drilling program is underway at the Samapleu Ni-Cu project (the "Project"). The first phase drilling program will initially consist of 15 drill holes. Drilling is being performed by Orex Africa SARL from Abidjan, Cote d'Ivoire. The drill program is being coordinated by Dr. Marc-Antoine Audet P.Geo and is designed to test the historically drilled Samapleu Ni-Cu project. Planned drilling will also test geophysical anomalies in the vicinity of the known occurrence. The drill campaign is based on work completed since early 2009.

The Company is in a joint venture with Societe de Developpement des Mines de Cote d'Ivoire ("SODEMI"). Since early 2009, a detailed prospecting program aiming at testing numerous geophysical anomalies in the vicinity of the known Samapleu Ni-Cu deposit has been completed. The geophysical surveys completed to date include an Induced Polarization ("IP") geophysical survey consisting of 89 line kilometres and a Ground Magnetic survey of 48 line kilometres conducted over two of the IP grid lines. The geophysical surveys were completed by Societe Nouvelle de Geophysique (SNG), of Abidjan, Cote d'Ivoire, West Africa. Abitibi Geophysics, Val d'Or, Quebec, Canada audited SNG's results and interpretation. These surveys outlined excellent anomalies to be tested by drilling.

About the Bonanza Property

The Bonanza gold exploration property is located within the Harquahala (or Ellsworth) Mining District of the Little Harquahala Mountains in La Paz County, Arizona, and is comprised of 11 unpatented and 9 patented lode mining claims (394 acres). The Property is eight miles south of the town of Salome, Arizona, and approximately 55 miles southwest of Wickenburg, Arizona. The Property is centered primarily on the historic gold producing Harquahala and Golden Eagle Mines.

About the Cote d'Ivoire, West Africa Project

The Project encompasses approximately 775 square kilometres ("km") and is located 600 km northwest of Abidjan, the commercial capital of Cote d'Ivoire, and 50 km west of Biankouma. The area has excellent infrastructure with a road network leading to the Project and all required services are available in the nearby towns of Man and Biankouma.

The Project was discovered by SODEMI in the mid 1970's. The geological setting consists of well preserved pyroxenitic to peridotitic bodies of early Proterozoic age intrusions within a Charnockitic environment. SODEMI drilled a total of approximately 40 core boreholes during the 1970's and 1980's, as well as in 1996. According to historical data, the results were from trace amounts of nickel ("Ni") and copper ("Cu") to a high value in core borehole S2, where 136 metres ("m") of highly disseminated to massive sulphides returned 0.65% Ni and 0.60% Cu at a cut-off of 0.25% Ni (including 3.98% Ni and 3.54% Cu over 7.00m). The historical data has not been reviewed by an independent Qualified Person as required by National Instrument 43-101 regulations.

Corporate

Shareholders are invited to the Annual and Special General Meeting held at the Vancouver Marriott Pinnacle Downtown Hotel, Kitsilano Room (3rd Floor), on March 31 at 10:00 AM (Vancouver time). A presentation on the company and its projects will be made.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Landen Capital Corp.
    Dr. Marc-Antoine Audet
    President and CEO
    (514) 726 4158